Permian Resources Co. (NYSE:PR) Holdings Trimmed by Sandia Investment Management LP

Sandia Investment Management LP trimmed its position in shares of Permian Resources Co. (NYSE:PR) by 40.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,500 shares of the company’s stock after selling 5,000 shares during the period. Sandia Investment Management LP’s holdings in Permian Resources were worth $108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingsview Wealth Management LLC acquired a new position in shares of Permian Resources during the fourth quarter valued at about $632,000. Charles Schwab Investment Management Inc. boosted its stake in Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock valued at $62,407,000 after acquiring an additional 176,320 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock valued at $3,881,000 after acquiring an additional 72,726 shares during the last quarter. Perpetual Ltd bought a new position in Permian Resources in the fourth quarter valued at approximately $27,104,000. Finally, Channing Capital Management LLC boosted its position in shares of Permian Resources by 286.1% during the fourth quarter. Channing Capital Management LLC now owns 620,138 shares of the company’s stock worth $8,918,000 after purchasing an additional 459,516 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PR. Susquehanna dropped their price objective on shares of Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Williams Trading set a $19.00 price objective on shares of Permian Resources in a report on Wednesday, March 5th. Morgan Stanley dropped their target price on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, UBS Group increased their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

Permian Resources Price Performance

Permian Resources stock opened at $13.50 on Friday. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $16.95. The firm has a 50-day moving average price of $12.58 and a 200-day moving average price of $13.90. The firm has a market capitalization of $10.84 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources’s payout ratio is 37.04%.

Insider Buying and Selling at Permian Resources

In related news, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at $822,525.36. This represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the sale, the chief financial officer now directly owns 130,467 shares of the company’s stock, valued at $1,825,233.33. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 in the last three months. 6.44% of the stock is owned by corporate insiders.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.